updated 4/16/2008 4:27:43 PM ET 2008-04-16T20:27:43

IBM says its quarterly earnings jumped 26 percent, way past Wall Street forecasts. The technology company showed strength in the U.S., which was surprising considering the faltering economy.

IBM is a big tech supplier to the troubled financial industry. But the company said it is benefiting from the fact that its customers often sign recurring contracts. Those are less vulnerable to short-term economic dips.

In the first three months of the year, IBM earned $2.32 billion, $1.65 per share. Analysts were expecting $1.45 per share.

Revenue rose 11 percent to $24.5 billion.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 4.91%
$30K home equity loan FICO 5.20%
$75K home equity loan FICO 4.57%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.42%
13.40%
Cash Back Cards 17.92%
17.92%
Rewards Cards 17.13%
17.12%
Source: Bankrate.com